20ACC201A Student No............................

Semester-End Examination, Spring 2020

BSc in Computer Science Year II Semester II Sherubtse College

Royal University of Bhutan

ACC201 - Introductory Financial Accounting

Write your Student number on e a c h p a g e o f t h e a n s w e r s c r i p t

Group IV Question 1

1. The following is the summarized Balance Sheets of a company as on June, 2019 and
2020: 7 Marks
Liabilities 2019 2020 Assets 2019 2020
Share Capital 2,00,000 2,50,000 Land and Buildings 2,00,000 1,90,000
General Reserve 50,000 60,000 Machinery 1,50,000 1,69,000
Profit and Loss 30,500 30,600 Stock 1,00,000 74,000
Bank Loan (Long Term) 70,000 - Sundry Debtors 80,000 64,200
Sundry Creditors 1,50,000 1,35,200 Cash 500 600
Provision for Taxation 30,000 35,000 Bank - 8,000
Good will - 5,000
5,30,500 5,10,800 5,30,500 5,10,800
Additional Information:
During the year ended 30 June 2020
Dividend of Nu.23,000 was paid. Assets of another company were purchased for a
consideration of Nu.50,000 payable in shares. The following assets were
purchased : Stock Nu.20,000; Machinery Nu. 33,000. Depreciation written off
machinery Nu. 12,000. Income tax provided during the year Nu.33,000. Loss
on sale of machinery Nu. 200 was written off to General Reserve.
You are required to prepare Cash Flow Statement.
Note: Take 2 minutes for reading followed by 20 minutes for solving the problem and take
not more than 3 minutes for uploading the PDF file at Assignment module of VLE/my
WhatsApp id /paul.sherubtse@rub.edu.bt. Delayed submission will not be entertained.